Wells Fargo & Company Issues Pessimistic Forecast for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its price target cut by analysts at Wells Fargo & Company from $65.00 to $48.00 in a report released on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the biotechnology company's stock. Wells Fargo & Company's target price indicates a potential upside of 328.99% from the company's current price.

SRPT has been the subject of several other research reports. Royal Bank Of Canada decreased their target price on shares of Sarepta Therapeutics from $25.00 to $23.00 and set a "sector perform" rating for the company in a research note on Thursday, July 17th. Oppenheimer decreased their price target on shares of Sarepta Therapeutics from $45.00 to $41.00 and set an "outperform" rating for the company in a report on Friday, July 18th. UBS Group reaffirmed a "neutral" rating on shares of Sarepta Therapeutics in a research note on Monday. Bank of America reaffirmed an "underperform" rating on shares of Sarepta Therapeutics in a research note on Wednesday. Finally, William Blair reaffirmed a "market perform" rating on shares of Sarepta Therapeutics in a research note on Thursday, July 17th. Three investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Sarepta Therapeutics has a consensus rating of "Hold" and an average price target of $52.21.

Sarepta Therapeutics Stock Performance

SRPT traded down $2.13 during midday trading on Thursday, hitting $11.19. 7,718,370 shares of the company were exchanged, compared to its average volume of 4,505,018. The company's 50 day simple moving average is $27.51 and its 200 day simple moving average is $66.42. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -4.16 and a beta of 0.45. The company has a current ratio of 4.02, a quick ratio of 2.46 and a debt-to-equity ratio of 1.00. Sarepta Therapeutics has a 1-year low of $11.67 and a 1-year high of $150.48.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) EPS for the quarter, missing analysts' consensus estimates of $2.20 by ($5.62). The business had revenue of $744.86 million for the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a negative net margin of 11.12% and a negative return on equity of 14.88%. Sarepta Therapeutics's revenue was up 80.2% on a year-over-year basis. During the same quarter last year, the business earned $0.73 earnings per share. As a group, sell-side analysts predict that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Hedge Funds Weigh In On Sarepta Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Byrne Asset Management LLC purchased a new stake in shares of Sarepta Therapeutics during the first quarter worth approximately $30,000. Center for Financial Planning Inc. acquired a new position in Sarepta Therapeutics during the first quarter worth $31,000. Ancora Advisors LLC grew its holdings in Sarepta Therapeutics by 150.0% during the first quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 300 shares during the period. Banque Transatlantique SA acquired a new position in Sarepta Therapeutics during the first quarter worth $44,000. Finally, Pandora Wealth Inc. acquired a new position in Sarepta Therapeutics during the first quarter worth $45,000. 86.68% of the stock is owned by institutional investors and hedge funds.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.

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